It is a little-known fact that Hong Kong enjoys the highest per capita wine consumption in Asia. According to the International Wine and Spirits Report (IWSR), each adult drinks more than 3.5 litres of wine a year, significantly ahead of Japan (2.5 litres) and Singapore (two litres).
'Asia has truly embraced wine culture,' says Robert Beynat, chief executive of Vinexpo Overseas. This is good news for the wine and spirits industry and is a reason why Hong Kong is hosting the sixth Vinexpo Asia-Pacific from today until Thursday at the Hong Kong Convention and Exhibition Centre in Wan Chai.
Based in Bordeaux, France, Vinexpo was launched in 1981 and held its first Asian exhibition in Hong Kong in 1998. Since then, it has organised one exhibition biennially in Asia, with Tokyo hosting two and this year's event being Hong Kong's fourth. More than 800 exhibitors from 32 countries are expected to join 9,500 industry professionals. There will be seminars, tasting sessions and opportunities for participants to learn about new trends and products.
The IWSR has been operating since 1971 and is considered a benchmark for the industry. It compiles data from 28 countries and 114 markets, and is regarded as the most accurate and detailed report of its kind. Since 2003, Vinexpo has commissioned the IWSR to compile a report on the world's wine and spirits consumption, production and international wine and spirits trade, with forecasts until 2013. The 2009-2010 study covers 28 wine and spirits producing countries and 114 consumer markets.
Hong Kong is regarded as the gateway to the booming Asian wine market, which amounted to US$6.94 billion in 2008 alone and is projected to grow by an average of 11.5 per cent annually until 2013. The IWSR predicts that for the next three years, 50 per cent of the world's wine consumption will be in just two countries - China and the United States.
The mainland and Hong Kong are clearly the growth driver for worldwide wine consumption. International wine sales totalled US$154 billion last year, expanding by 9.87 per cent between 2004 and 2008. Sales are projected to grow by more than 3.5 per cent until 2013, meaning one billion more bottles are expected to be drunk worldwide between 2009 and 2013.
In 2008, the mainland and Hong Kong posted the highest worldwide growth in volumes of wine consumed, accounting for 69 per cent of all still light wines in Asia and 3 per cent of the world total.